Blockchain in commodities industry to avoid fraud
Commodities industry considers the Blockchain an useful tool in monitoring, managingand improving of the work processes.
This business amounts to $ 10 trillion per year: Kate Rooney, journalist of CNBC, reports estimates from the government of Singapore, a global commercial hub of this market. However, most of the turnover, especially in some sectors such as agricultural production, is still managed in a traditional way by intermediaries that slow down time, reduce profit and potentially promote opacity and fraud.
Instead, the Blockchain ledger verifies each passage and tracks the load any time.